Business attorney Mike Anthony and employment attorney Chisa Chervenick went live on Facebook on Wednesday, April 1, to discuss the CARES Act and specifically applying for the Paycheck Protection Program (the “PPP”). The PPP allows for small businesses to obtain a loan to cover certain employment and utilities expenses. The loan can then be forgiven if the money is used to cover costs eligible for forgiveness.

Read more about the CARES Act and the Paycheck Protection Program here. The application form can be found here. Applications are being accepted starting on Friday, April 3 and will need to be submitted through your business banker.

Mike and Chisa covered the following topics, and more, in the video:

• Who qualifies for PPP

• How to apply for PPP

• What PPP funds can be used for

• How to stay compliant

• How to obtain forgiveness for the loan

• When unemployment might be better for employees than a PPP loan